Crypto Enthusiasts Advocate Use of Bitcoin as China Quarantines Cash to Prevent Spread of Coronavirus February 17, 2020 February 17, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsFebruary 17, 2020 by Kelly Cromley

Crypto Enthusiasts Advocate Use of Bitcoin as China Quarantines Cash to Prevent Spread of Coronavirus

There have been news reports that China has begun quarantining its old bank notes in order to prevent the spread of coronavirus.

In the meantime, the crypto enthusiasts started discussing on the news with comments calling for the use of Bitcoin to resolve the problem.

In the past 24 hours, after authorities modified their way of diagnosing patients, Hubei province recorded a surge of nearly 15,000 new cases.

Additionally, 242 people lost their lives. Dovey Wan, founding associate of Primitive Crypto tweeted that the government is not revealing the actual numbers.

BBC recently reported 2,000 new cases and 142 additional deaths. As per official info, the total number of people infected by the disease is over 68,000 and the number of casualties is 1,665.

Chinese crypto mining centres supposedly being locked down seems to have no impact on the price or hash rate of Bitcoin (BTC).

The network seems to be operating stronger than earlier with hash rates continuing to record new highs.

Mati Greenspan, the founder of Quantum Economics, stated that it is difficult to assess the effect on the market as of now. Greenspan said “How it will affect Bitcoin’s price, I really couldn’t tell you. At the moment, I don’t feel like it is.” In the meantime, a spokesperson for mining equipment manufacturer Bitmain revealed that they are not seeing any impact.

As the crypto advocates continue to guess whether Bitcoin could stop the spread of coronavirus transmitted by the use of old bank notes, a ERC-20 based crypto coin, referred to as corona-coin (NCOV) has been unveiled as per a message on Reddit. As per the website its intention is to raise awareness about coronavirus epidemic.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.